Contravisory Investment Management Inc. Takes $272,000 Position in CVR Energy Inc. $CVI

Key Points

• Contravisory Investment Management Inc. has taken a new position in CVR Energy, acquiring 10,132 shares worth approximately $272,000.
• CVR Energy's stock performance shows a 12-month high of $34.04 and a 12-month low of $15.10, with shares currently trading around $33.86.
• Analysts have downgraded CVR Energy's stock rating, with the current consensus being a "Strong Sell", and an average target price of $23.25.

Contravisory Investment Management Inc. acquired a new position in CVR Energy Inc. (NYSE:CVI - Free Report) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 10,132 shares of the oil and gas company's stock, valued at approximately $272,000.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Harbor Capital Advisors Inc. increased its position in shares of CVR Energy by 65.5% during the first quarter. Harbor Capital Advisors Inc. now owns 1,633 shares of the oil and gas company's stock worth $32,000 after acquiring an additional 646 shares during the period. Caitong International Asset Management Co. Ltd raised its holdings in shares of CVR Energy by 1,030.2% in the first quarter. Caitong International Asset Management Co. Ltd now owns 1,944 shares of the oil and gas company's stock worth $38,000 after buying an additional 1,772 shares during the last quarter. GAMMA Investing LLC raised its holdings in shares of CVR Energy by 106.6% in the first quarter. GAMMA Investing LLC now owns 2,159 shares of the oil and gas company's stock worth $42,000 after buying an additional 1,114 shares during the last quarter. CWM LLC raised its holdings in shares of CVR Energy by 304.2% in the first quarter. CWM LLC now owns 2,676 shares of the oil and gas company's stock worth $52,000 after buying an additional 2,014 shares during the last quarter. Finally, ProShare Advisors LLC purchased a new position in shares of CVR Energy during the fourth quarter worth $193,000. 98.88% of the stock is owned by hedge funds and other institutional investors.

CVR Energy Stock Performance

Shares of NYSE CVI opened at $33.86 on Friday. The company has a market cap of $3.40 billion, a PE ratio of -10.20 and a beta of 1.32. CVR Energy Inc. has a 12 month low of $15.10 and a 12 month high of $34.04. The company has a debt-to-equity ratio of 2.78, a current ratio of 1.17 and a quick ratio of 0.75. The company has a 50-day simple moving average of $28.98 and a 200-day simple moving average of $24.47.

CVR Energy (NYSE:CVI - Get Free Report) last released its earnings results on Wednesday, July 30th. The oil and gas company reported ($0.23) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.08) by ($0.15). The company had revenue of $1.76 billion during the quarter, compared to analysts' expectations of $1.73 billion. CVR Energy had a negative net margin of 4.63% and a negative return on equity of 18.11%. CVR Energy's revenue for the quarter was down 10.5% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.09 earnings per share. On average, equities analysts anticipate that CVR Energy Inc. will post -0.12 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of research firms have weighed in on CVI. Raymond James Financial cut shares of CVR Energy from a "market perform" rating to an "underperform" rating in a report on Tuesday, July 15th. Mizuho reiterated an "underperform" rating and issued a $29.00 target price (up from $27.00) on shares of CVR Energy in a report on Monday. Scotiabank boosted their price target on shares of CVR Energy from $21.00 to $25.00 and gave the company a "sector underperform" rating in a research note on Friday, July 11th. Finally, Zacks Research raised shares of CVR Energy from a "strong sell" rating to a "hold" rating in a research note on Tuesday. One equities research analyst has rated the stock with a Hold rating and five have assigned a Sell rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of "Strong Sell" and an average target price of $23.25.

CVR Energy Profile

CVR Energy, Inc, together with its subsidiaries, engages in the petroleum refining and marketing, and nitrogen fertilizer manufacturing activities in the United States. It operates in two segments, Petroleum and Nitrogen Fertilizer. The Petroleum segment refines and supplies gasoline, crude oil, distillate, diesel fuel, and other refined products.

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